Servive Tax on Immovable property
This query is : Resolved
14 March 2008
Our tenent, State Bank of Indore,is refusing to PAY the service tax on monthly rent.The tax was imposed by the government on 01.06.2007.The bank actually paid the service tax for three months i.e. Sept07 to Nov'07 alongwith the rent for each month after deducting T.D.S. on total amount.
Now they say that it was paid by mistake.Then they have taken back the service tax amount for three months from the rent of Dec.2007. Is it legal to do that? Can they withdraw money from our current account without our permission ??
Our lease was signed prior to imposition of Service tax.
What is the recourse that we have. How can we get this amount of 12.36% of rent from them ? Can we get the buiding vacated if they do not pay the service tax ??
Thanks,
Vinay K. ahuja
Now they say that it was paid by mistake.Then they have taken back the service tax amount for three months from the rent of Dec.2007. Is it legal to do that? Can they withdraw money from our current account without our permission ??
Our lease was signed prior to imposition of Service tax.
What is the recourse that we have. How can we get this amount of 12.36% of rent from them ? Can we get the buiding vacated if they do not pay the service tax ??
Thanks,
Vinay K. ahuja
14 March 2008
when you give premises on rent you made
aggrement what you write in the agrement that is important if all taxess are paid by tenant then service tax will be collected and paid by you to the govt.
if in aggrement the rent is included of all taxess then service tax is include in the rent and you will issue bill show service tax separetly.
tds will be deducted on net rent received
not including of service tax
aggrement what you write in the agrement that is important if all taxess are paid by tenant then service tax will be collected and paid by you to the govt.
if in aggrement the rent is included of all taxess then service tax is include in the rent and you will issue bill show service tax separetly.
tds will be deducted on net rent received
not including of service tax
15 March 2008
The agreement says talks about the Municipal taxes and property taxes to be paid by the landlord and nothing else.
Also the agreement says That the lessee shall abide by and comply with at its own cost, all the statutes concerning the said property.
Also the agreement says That the lessee shall abide by and comply with at its own cost, all the statutes concerning the said property.
15 March 2008
The bank's action is absolutely wrong. Debiting your account is also absolutely without authority.
It is unfortunate, in our country, PSU's replaces themselves for the legislature.
If it is improper on your part to charge Sevice Tax, then it is improper on the part of the banks to charge service tax on banking services provided to customers.
The service tax is revenue neutral for the bank. It will be available as cenvat credit to them.
It is unfortunate, in our country, PSU's replaces themselves for the legislature.
If it is improper on your part to charge Sevice Tax, then it is improper on the part of the banks to charge service tax on banking services provided to customers.
The service tax is revenue neutral for the bank. It will be available as cenvat credit to them.
15 March 2008
Unfortunately, it is due to a drafting lapse of the agreement taken advantage of by the bank. It is normal to provide a clause in the agreement all statutory levies extra.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Annual return in Gst
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
